16th Jul 2014 08:48
LONDON (Alliance News) - Speedy Hire PLC Wednesday said it remains on track to deliver full-year results to March 2015 in line with internal expectations, as economic and market conditions in its core markets continued to show signs of improvement.
In an interim management statement for the three months June 30, Speedy Hire, which provides equipment such as saws to construction firms, said group revenue rose 16% compared with a year earlier, while revenue for its UK & Ireland division also rose 16% on a year ago.
The UK & Ireland arm makes up 94% of group revenue.
The company said it has fully mobilised its three-year services contract with Babcock International Group PLC, which could earn it over GBP10 million in revenue a year.
In addition, Speedy Hire said the reconfiguration of its UK & Ireland depot network has seen the successful delivery of two further superstores in Coventry and Aberdeen. Further sites have now been secured, and development works started as part of the accelerated plan to complete the network.
Speedy said it will issue its full interim results for the six months ended September 30 on November 11 and will issue a trading update on October 16.
Speedy Hire shares were quoted up 6.0% at 56.17 pence Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
BabcockSpeedy Hire